Short it1.Fell out of its channel monday
2. fell through supports 418 and 407 yesterday (Yellow lines)
3. first target is gap close at 379 if that doesn't hold I'm going for 344
stop loss at 407
R1KU34 trade ideas
Roku Volcano or Moon?Roku Volcano or mewning?
Volcano Option: Risk potential SHORT stop loss around last high
Moon Option: BUY 360-380 Stop loss 340-350
The Big Short (ROKU)ROKU insane short opportunity in the works. Gravestone Doji on the weekly timeframe. Wave 4 ideally would hit the 0.236 to the .382 retracement, which lines up with the median line of the Schiff Pitchfork. Additionally, there is bearish divergence on the daily timeframe on the RSI. The streaming service is quite saturated and some competitor news can drive price down.
ROKU ShortRoku has been seeing this trend, with being overbought right now, I think it has touched its upper trend line and is about to dip. I've only been trading for 2 months now so please correct me if I'm wrong.
ROKU Short Opportunity! Thanks NFLXRoku is setting up for a 418 test with a possible sell off to 407 lvl tomorrow 1/20/21 . We can see a double test of the 426 support area with nice bounces each time. Another tell is the follow through of the bounce at the 426 area, todays bounce puttered out at 435 with no continuation.
My plan:
1/22 420 put (3.4/3.65) on 426 lvl break (quicker momentum play)
1/29 405 put (5.45/5.55)
*ideally I would like ROKU to rally at open 430-437 range before failing, I will look to begin entering puts then
Indicators:
- MACD cross over on 30 min chart.
- Daily RSI overbought, MACD beginning to head down
- approaching a LVN on volume profile, Daily POC in showing stronger price action at 411 area
Sector Divergence: from 1/4 to 1/19 NFLX fell to a max of -10% (touching 485 area) , in that same time period 1/4 to 1/19 ROKU exploded 41%! It rode the back of price upgrades and sector hype but now we see that flowing into NFLX today!
levels provided by EliteOptions
ROKU vs Netflix Since it’s IPO, ROKU beats NETFLIX bay far, almost 10 times..!
While Netflix rewarded its shareholders decent 180% since September 2017, Roku rewarded its shareholders astronomical 1750% in less than 30 months..!
I’m convinced ROKU will surpass Netflix in coming years..!
ROKU Ready to DropROKU has been moving within this ascending
channel recently, if it bounces off the bottom,
I would do nothing more than day trade long
positions asI am bearish on this one. The
20SMA is about ready to fall under the 50SMA,
with a hidden bearish divergence shown
with the RSI making lower lows. With IV
rising, it could be prime for puts under 407.
Sell ROKU at 413$ to 380$ target price Open short idea RUKU.
From 413$ to 380$ (+8% gain).
Reasons - new TV sets and sticks will decrease quartal to quartal due to previous highs jumps in sales in covid lock-downs period. Now who wanted to buy TV or stick mostly done this, and future sales will decrease in post-covid reality.
Also there is few ideas to short, TESLA, NIO see below.
UPDD: NIO has reached the target +9% take proft on short.
Tesla
Roku Breakout Soonpretty simple chart but should breakout pretty heavily with a cross of the top trend with volume
good consolidation intraday and flagging on the higher timeframes
Roku at a cross road?Volume has decreased with new highs (Bad sign). It's still holding that 403 support.. if it falls out of the channel first target is 379.49(Redline/Gap Close). As you can see it has fell out of its channel before . If ARK decides to buy the dip it could continue on. targets are green lines
ROKU extremely disconnected from trend lineFaded the resistance touch today. From the high, price is above the trend line by the 2nd furthest % since IPO. Look at how wide the space is between price and the trend line at the tops. Pullback usually revert to the trend line within about a month so which would run around $290-300 area by February. Watch out if this breaks down.
$ROKU resisted at 421.95So far resisted at 421.95. It might base in this range letting MAs catch up before another leg. 390 range should act as support
ROKU ShortRSI divergence
Short 420
stop 430
Target1 360
Target2 320
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
ROKU - Tracking a backtestif we see consolidation continue I will look for support in the 370-371 zone.
